项目组合管理(2).pptVIP

005013hk.ppt Project Portfolio ManagementAn Introduction李俊伟  November 2002Beijing Content Emergence of Project Portfolio Management (PPM) Portfolio Management in Financial Market Overview of PPM PPM, Process and Techniques The Emergence of Project Portfolio Management 1952, Modern Portfolio Theory (MPT), Harry Markowitz, Journal of Finance, Portfolio Selection 1990, Harry Markowitz shared Nobel Prize, dominant approach used to manage risk and return within financial markets 1981, F.Warren McFarian, Portfolio Approach to Information Systems, HBR, to employ a risk-based approach to the selection and management of IT projects. 1990s, a broader use of ideas of portfolio management 1998, John Thorp, The Information Paradox. Portfolio management was used to manage risk and maximize return along a number of dimensions. Present, portfolio management as central elements of good investment management Portfolio Management, the overall picture Content Emergence of Project Portfolio Management (PPM) Portfolio Management in Financial Market Overview of PPM PPM, Process and Techniques Risk aversion seems to be an instinctive trait in human beings. Risk Reduction with Diversification Components of Risk Market or systematic risk: risk related to the macro economic factor or market index Unsystematic or firm specific risk: risk not related to the macro factor or market index Total risk = Systematic + Unsystematic Two-Security Portfolios with Different Correlations Portfolio Risk/Return, Correlation Effects Relationship depends on correlation coefficient -1.0 ? +1.0 The smaller the correlation, the greater the risk reduction potential If???= +1.0, no risk reduction is possible Content Emergence of Project Portfolio Management (PPM) Portfolio Management in Financial Market Overview of PPM PPM, Process and Techniques What is project portfolio management Portfolio Management is the project selection process and involves identifying opportunities: assessing the org